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Court Upholds CBN’s Right to eNaira Trademark in Legal Showdown
The Federal High Court in Abuja has declined a request to halt the Central Bank of Nigeria (CBN) from using the “eNaira” trademark, following a legal challenge filed by a private firm, E-naira Payment Solutions Limited.....KINDLY READ THE FULL STORY HERE▶
In his ruling, Justice James Kolawole Omotosho rejected the plea for an interim injunction aimed at restraining the apex bank’s use of the trademark. The plaintiff had argued that it was the rightful owner of the “eNaira” mark, citing a previously accepted registration by the Trade Mark Registry of Nigeria. The company claimed that the CBN’s continued use of the name posed a threat to its intellectual property and could lead to significant, irreversible damage.
The suit, referenced FHC/ABJ/CS/2021, also sought to prevent the CBN from corresponding with the United States Patent and Trademark Office (USPTO) regarding the trademark, and requested a halt to the processing of the CBN’s registration application with the USPTO.
In its defense, the CBN countered that the “eNaira” trademark is a national asset that belongs to the Federal Government, not any private entity. The apex bank emphasized that the initial acceptance letter granted to the plaintiff was issued in error and had already been rescinded in a letter dated November 15, 2021.
CBN further informed the court that it holds a valid certificate from the Nigerian Trade Mark Registry under Section 22 of the Trade Mark Act and is in the process of registering the mark internationally. It maintained that the eNaira trademark constitutes a sovereign property, underscoring that no individual or corporate entity has the right to claim ownership.
The bank also argued that granting the plaintiff’s request would not only hinder ongoing national initiatives but also pose a threat to Nigeria’s economic reputation on the global stage.
Agreeing with CBN’s position, Justice Omotosho ruled that the economic implications for Nigeria far outweighed any potential damage to the plaintiff. He noted that CBN’s communication with the USPTO was a strategic move to safeguard national interests, rather than an act of malice.
Consequently, the court dismissed the motion and ordered the plaintiff to pay CBN N50,000 in legal costs. The substantive hearing on the matter is scheduled to continue on June 26.
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